Brightline West Delays Launch to December 2028
Deal News | Feb 03, 2025 | Raptor Capital Management LP
Brightline West, a major rail project backed by Raptor Capital Management LP, has announced that it will not commence operations in time for the 2028 Summer Olympics in Los Angeles. According to 1,200 pages of bond offering documents reviewed by KTNV-TV, passenger services are now expected to start in December 2028. The bond offering is intended to raise $2.5 billion towards the project's total $12.4 billion cost, complementing a $3 billion federal grant. Despite not yet finalizing its ticketing strategy, Brightline West estimates a one-way fare of $119, rising to $133 for premium tickets.
Sectors
- Transportation
- Infrastructure
- Private Equity
Geography
- United States – The rail project discussed is located in the United States, specifically impacting the Los Angeles area for the 2028 Summer Olympics.
Industry
- Transportation – The article refers to Brightline West, a rail service provider working on a major transportation project.
- Infrastructure – The development of a $12.4 billion rail project classifies it under infrastructure.
- Private Equity – Raptor Capital Management LP, a private equity firm, is involved in this venture.
Financials
- $2.5 billion – The amount Brightline West aims to raise through the bond offering.
- $12.4 billion – The estimated total cost of the Brightline West rail project.
- $3 billion – Federal grant amount approved by the Federal Railroad Administration.
- $119 – The projected average one-way fare for Brightline West rail service.
- $133 – The projected premium ticket fare for Brightline West rail service.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Brightline West | Target Company | Company | Brightline West is the company developing the rail line expected to launch in December 2028. |
| Raptor Capital Management LP | Private Equity Firm | Company | The private equity firm involved in the bond offering for the Brightline West rail project. |
| Federal Railroad Administration | Government Grant Provider | Government | The federal agency providing a $3 billion grant for the Brightline West project. |